Stock Market Today: Indian stock market benchmarks Nifty 50 and Sensex ended with modest gains on Monday, June 24, thanks to gains in share prices of some large companies such as Mahindra & Mahindra, ICICI Bank, HDFC Bank and ITC, as well as broadly positive global indices.
Major European markets including Britain’s FTSE, France’s CAC 40 and Germany’s DAX were in positive territory with the Sensex index up around 0.5 per cent at the close.
The Sensex index opened at 76,885.65 against previous close of 77,209.90 and fluctuated around 677 points during trading hours, hitting an intraday high of 77,423.02 and a low of 76,745.94. The 30-stock index ended 131 points or 0.17 per cent higher at 77,341.08, with Mahindra & Mahindra, Power Grid and Sun Pharma being the top gainers.
Shares of IndusInd Bank, Adani Ports and Tata Steel were the biggest losers in the index.
The Nifty 50 opened at 23,382.30, up from the previous close of 23,501.10, and hit an intraday high of 23,558.10 and a low of 23,350. The index ended at 23,537.85, up 37 points or 0.16 percent.
Midcap and smallcap indices also ended with marginal gains but still outperformed the benchmarks. The BSE Midcap index ended 0.37% higher and the smallcap index 0.27% higher.
As many as 301 stocks, including ICICI Bank, ICICI Lombard General Insurance Company, Cummins India, Indian Hotels Company, Info Edge (India) and Shriram Finance, hit their fresh 52-week highs in intraday trade on the BSE.
The total market capitalization of all companies listed on the BSE is approximately ₹From nearly 43.57 crore. ₹43.45 crore in the previous session, investors invested around ₹1.2 lakh crores per session.
Adani Ports replaces Wipro in BSE Sensex index
Adani Ports shares joined the BSE Sensex index on Monday, replacing Wipro shares which were dropped from the 30-stock index as part of the half-yearly rebalancing.
Adani Ports shares closed down 1.72%. ₹1,460.20 per share on the BSE.
According to estimates by Nuvama Institutional Equities, the inclusion of Adani Ports & Special Economic Zone shares in the Sensex index is expected to lead to passive inflows worth $259 million along with an addition of 14.9 million shares.
The restructuring of the Sensex index was announced earlier by the BSE with the actual adjustment taking effect from June 24, when Adani Ports, India’s largest private port operator, became the first Adani group company to join the BSE index.
Meanwhile, Wipro is expected to see passive outflows of $170 million, Nuvama estimates. ₹490.45 per share, down 0.02% on the BSE.
Today’s Top Nifty 50 Gainers
Shares of Mahindra & Mahindra (up 2.86 per cent), Power Grid (up 2.22 per cent) and Shriram Finance (up 2.17 per cent) were the top gainers among the 30 stocks that rose in the Nifty 50 pack.
Top decliners in Nifty 50 today
Shares of IndusInd Bank (down 2.42 per cent), Cipla (down 2.19 per cent) and Adani Ports (down 1.70 per cent) were the biggest losers in the Nifty 50 index.
Today’s Sector Indexes
Sectoral indices ended on a mixed note today. Among the gainers, Nifty Auto (up 0.87%), Consumer Durables (up 0.75%) and FMCG (up 0.72%) ended with significant gains.
While Nifty Bank rose 0.08 per cent, the PSU bank and private bank indices fell 0.66 per cent and 0.12 per cent, respectively.
The Nifty Media Index fell 1.87%. The Metals Index ended down 0.64%.
(To be continued)
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